11 Units | Santa Monica | 4.56% Assumable Loan

1311 Euclid Street, Santa Monica, CA

$5,450,000

Price

5.06%

Cap Rate

$275,805

NOI

Overview
Cap Rate
5.06%
NOI
$275,805
Cash-on-Cash
4.13%
Pro Forma Cap Rate
6.36%
Building Size
10,384 sqft
Lot Area
0.17 acres
Units
11
GRM
13.11
Year Built
1968
Price Per Sqft
$524.85
Price Per Unit
$495,455
Zoning
SMR3*
Investment Strategy
Value Add
Description

The LAAA Team of Marcus & Millichap is proud to present 1311 Euclid Street, a 11 unit multifamily property in Santa Monica, CA. Built in 1968, this 10,384 square foot property sits on a 0.17 acre lot and it boasts a strong unit mix of three 1 bed/1 bath, two 2 bed/1 bath, two 2 bed/2 bath, and three 3 bed/2 bath units. The subject property resides less than one and a half miles from the beaches of Santa Monica and hubs for shopping, entertainment, restaurants, and nightlife for beach city locals.

The property offers ample carport parking at the rear alley and side of the building. To enhance the quality of living for residents, the property features a smoke-free environment, security systems, cable ready, storage spaces, laundry facilities, stainless steel appliances, controlled access, walk-in closets, patios and balconies.

The property is also being offered with an attractive assumable loan with a $2,550,000 remaining balance at a 4.56% interest rate fixed through 2027. This offers lower overall costs to a buyer in our current higher-rate environment.

The City of Santa Monica has undergone a remarkable transformation in recent years, emerging as a thriving hub for technology companies and attracting a wave of young, skilled professionals seeking dynamic job opportunities. With its vibrant ecosystem of startups, established tech giants, and a supportive community, Santa Monica has become a magnet for innovation, driving economic growth and reshaping the city's landscape.

One of the driving forces behind Santa Monica's tech boom is its strategic location within the broader tech-rich region of Silicon Beach. This proximity to renowned institutions like the University of California, Los Angeles (UCLA) and a host of venture capital firms has created an environment ripe for collaboration and investment. Tech companies of all sizes, from nimble startups to industry titans, have recognized the advantages of setting up shop in Santa Monica, leading to the establishment of a diverse and dynamic tech scene that will help sustain the city’s continued growth.

Highlights
  • Built in 1968
  • Value Add Potential
  • Approx. 19% Upside in Rents
  • 4.56% Assumable Loan
  • Ample Parking On-Site
  • Laundry Facilities On-Site
  • Less Than 1.5 Miles from Beach
  • 85 Walk Score | Very Walkable
Documents
Title
1311_Euclid_OM.pdf
1311_Euclid_-_Flyer.pdf
* Documents permissions are set by the listing owner, request information to access locked documents.

Location
Gallery